Asset Management One Co. Ltd. Acquires 8,087 Shares of TD SYNNEX Corporation $SNX

Key Points

• Asset Management One acquired 8,087 TD SYNNEX shares worth approximately $2.08 million during the third quarter. Institutional investors collectively own 84% of the company.
• TD SYNNEX reported stronger-than-expected quarterly results, with EPS of $5.68 versus the $4.70 consensus estimate and revenue up 37.7% year over year to $21.56 billion.
• Despite the stock opening at $222.18 after a reported 6.1% decline, analysts maintain a consensus “Buy” rating with an average price target of $331.14; the company also pays a quarterly dividend of $0.48.

Asset Management One Co. Ltd. acquired a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,087 shares of the business services provider's stock, valued at approximately $2,077,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SNX. Bell Investment Advisors Inc bought a new stake in shares of TD SYNNEX in the 2nd quarter worth about $27,000. Fiduciary Financial Advisors purchased a new position in shares of TD SYNNEX during the 2nd quarter worth about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of TD SYNNEX by 116.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 117 shares of the business services provider's stock worth $30,000 after purchasing an additional 63 shares during the period. Essential Partners LLC boosted its stake in shares of TD SYNNEX by 644.4% during the 1st quarter. Essential Partners LLC now owns 201 shares of the business services provider's stock worth $34,000 after purchasing an additional 174 shares during the period. Finally, Compass Financial Management LLC bought a new position in TD SYNNEX during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Down 6.1%

Shares of NYSE:SNX opened at $222.18 on Tuesday. The business's 50 day moving average is $260.11 and its 200 day moving average is $225.88. The stock has a market cap of $17.73 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.51 and a beta of 1.37. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week high of $298.77. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.98. TD SYNNEX had a return on equity of 16.78% and a net margin of 1.75%. The business had revenue of $21.56 billion for the quarter, compared to the consensus estimate of $18.91 billion. During the same quarter in the prior year, the company earned $3.58 EPS. The business's revenue was up 37.7% compared to the same quarter last year. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 20.35 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued a $0.48 dividend. The ex-dividend date was Friday, October 16th. This represents a $1.92 annualized dividend and a dividend yield of 0.9%. TD SYNNEX's payout ratio is currently 11.70%.

Insider Activity

In other news, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the transaction, the director directly owned 13,537 shares of the company's stock, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alim Dhanji sold 3,775 shares of TD SYNNEX stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $241.01, for a total value of $909,812.75. Following the completion of the transaction, the insider owned 11,712 shares in the company, valued at $2,822,709.12. This trade represents a 24.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNX. Morgan Stanley increased their price objective on shares of TD SYNNEX from $334.00 to $359.00 and gave the stock an "overweight" rating in a research report on Friday, September 25th. Weiss Ratings lowered TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. UBS Group upped their target price on TD SYNNEX from $352.00 to $379.00 and gave the company a "buy" rating in a research note on Friday, September 25th. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 29th. Finally, Barclays increased their price target on TD SYNNEX from $278.00 to $287.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of "Buy" and an average price target of $331.14.

About TD SYNNEX

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator. The company connects technology vendors with resellers, systems integrators, managed service providers, retailers and other channel partners, helping them market, sell, deploy and support technology products and services.

Its offerings include personal computing and endpoint devices, servers, data-center and networking equipment, software, cloud solutions, cybersecurity products, and related professional and managed services.

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